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February 20, 2025
Question

Why would my home office expenses keep dropping to almost nothing? I fill it out and they show as $8000 and then when I continue and go back, they drop to like $110.

  • February 20, 2025
  • 1 reply
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    1 reply

    February 20, 2025

    the business portion of qualified residence interest and taxes is deductible without limit. other expenses are deductible only to the extent of net business income after reduction for the above expenses (ie net income before HO deduction less HO interest and taxes) 

    February 20, 2025

    It is allowing the carry over to next year. Would taking the standard deduction and only having my mortgage interest in this section be causing it to not allow it?